Xeris Q2 business highlights

Xeris Pharmaceuticals, Inc. (XERS), a specialty pharmaceutical company leveraging its novel technology platforms to develop and commercialize ready-to-use injectable and infusible drug formulations, today announced financial results for the second quarter and corporate highlights.

“We successfully completed our IPO in the second quarter and raised $89 million in net proceeds, which will fund multiple clinical programs, advance pre-clinical programs in other therapeutic areas, as well as build out our commercial organization in preparation for the commercial launch of our lead candidate, Glucagon Rescue Pen, in the United States,” said Paul R. Edick, Chairman and Chief Executive Officer of Xeris Pharmaceuticals. “We are delighted to have submitted the NDA for our Glucagon Rescue Pen since the IPO.  Our NDA submission is a major milestone for Xeris and Glucagon Rescue Pen, which has the potential to be the preferred rescue treatment for severe hypoglycemia in people with diabetes. If our NDA is approved in our expected timeframe, we believe we will have the first ready-to-use, room-temperature stable liquid glucagon formulation that can be administered without any preparation or reconstitution.”

Second Quarter 2018 Highlights and Recent Events

• Submitted NDA to US Food and Drug Administration (FDA) for Glucagon Rescue Pen:  Xeris submitted the NDA for its lead product candidate, Glucagon Rescue Pen, for the treatment of severe hypoglycemia, a potentially life-threatening condition, in people with diabetes.
• Presented positive Phase 3 data at American Diabetes Association’s 78^thScientific Sessions: Xeris presented efficacy and safety data from two of its Phase 3 clinical studies of its ready-to-use Glucagon Rescue Pen in treating severe hypoglycemia in adults and children with type 1 diabetes, as compared to the currently marketed Glucagon Emergency Kit.
• Completed initial public offering (IPO): Xeris successfully completed its IPO of 6,555,000 shares of common stock at a public offering price of $15.00 per share, including the exercise in full by the underwriters of their option to purchase up to an additional 855,000 shares of common stock. Net proceeds to the Company were approximately $89.0 million after deducting underwriting discounts and commissions as well as other offering expenses.

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